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Originally Posted by panama hat  The USD will regain its position as the 'reigning' world currency, I have no doubt . . . with the Thai Baht running a close second . . .
I am joking on one of these points. |
So long as the world runs on oil, and oil is priced in dollars, this will be the case (the first part anyway). People talk about the dollar being a "fiat" currency, but that is only partly true- it's oil-backed instead of gold- or silver-backed (despite the appealing image of hulking gorilla dollars). This is the arrangement that Nixon worked out with the Arabs, and I don't see much happening to change it, however desirable that might be.